Results 3,581-3,600 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Well, if I could put it to you that the SSIAs were an attempt, potentially, some might say, to buy two elections?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: No, I've asked ... I asked a question-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Okay, thank you. Are you aware how much the SSIA, the 25% from the State, cost?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: So the maximum amount potential liability for the State was €2.5 billion.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Okay. Can I ask ... did you hear Mr. Donal McNally's evidence this morning?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: No, okay. Well, he said there was no analysis done on the benefit of the SSIAs, and I'm asking you, as a former Minister for Finance, how you would make the State available for a liability, with no analysis, for an amount of €2.5 billion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Mr. McCreevy, have you ... I've only got a couple of minutes. You're talking for ages.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Yes, I do, but I mean, I think there has to be some-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Good, good. Did you monitor the FSR reports, the financial stability reports, Mr. McCreevy?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: I just ... I-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: You did, good. One of the issues that came very clearly from the FSR reports was the household indebtedness. From 1995, 71% of GDP, to '07 - you had left at that stage - to 248% of GDP ... of GNP. During your period, there was enormous growth of household indebtedness, primarily from mortgage lending. Were you aware of that? Were you aware of the massive increase of the mortgage loan...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Were you aware?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Were you aware in your discussions with Governor Hurley or anybody within the Central Bank or IFSRA in relation to the commercial real estate sector's level of indebtedness?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Were you aware about the Anglo Irish Bank loan book? Did anybody make you aware of the extent of it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: I'm talking about financial stability for the sector.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: You said earlier about Dr. Garrett FitzGerald, that you didn't believe ... didn't agree with anything he said or his son.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: Very little, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Michael D'Arcy: You've no idea, Mr. McCreevy. He was, for a long time, in his articles inThe Irish Timeswriting about the narrowing of the tax base, most of which happened upon your period in Finance.